B&CE, Means Testing and Tax-Free cash on Serps…
I’m pleased to say that this latest Pensions Radio podcast features a fascinating conversation between Stephen Ballard, me and my good friend John Jory. John, as you may know is the deputy Chief Exec of the Building and Civil Engineering (B&CE) scheme. That scheme, which became 65 years old last week, started out as a holiday pay stamp-based scheme for workers in the construction industry, but today covers far more than that, including pensions. Indeed, the pension part of the scheme has close on 500,000 members and is by far and away the largest stakeholder pension scheme in the UK in terms of membership numbers. But did you know that the first B&CE scheme was designed to provide construction workers with a tax-free cash top-up to their Serps pensions? No? Me neither.
The scheme is a grouping of personal pensions (a GPP) and that, of course, led to us discussing the current uncertainties facing GPP schemes in the run-up to the launch of Personal Accounts in 2012, something you’ll know I’m worried about right now. We also talked about the recent Pensions Policy Institute (PPI) report that examined ways of tackling the problems caused by means-testing. That report was sponsored by the B&CE scheme and is also something that I wrote about last week on the BeeHive.
This latest Pensions Radio podcast can be accessed directly from the BeeHive website by clicking on the following link: Pensions Radio. It can also be downloaded from the ITunes store (by searching on ‘Pensions Radio’) or even by telephone by ringing 0845 685 6078. (This phonecast, however, is charged as a local call whereas the other download options, including that from the iTunes store, are free of charge).
Thanks to the popularity of this new Pensions Radio feature of the BeeHive I’m pleased to be able to say that we have been whizzing up the ratings on Podcast Alley, the independent website that runs a sort of top-ten of podcasts. For the month of November, Pensions Radio is currently ranked at number 22 out of the 36,000 or so podcasts featured and as number 2 in the ‘Business Podcast’ sub-group, well ahead of household names such as the Motley Fool. I mean, how good’s that? And we’ve only just started. If you’d like to keep the momentum going for us on that, and assuming you like this latest podcast, please take the time to register your vote for us on Podcast Alley if you’ve got a spare few seconds to do so. It couldn’t be easier, the following link takes you to right page on the internet where you can just click on the bit that says ‘Pensions radio’ and register your vote - Vote for us on Podcast Alley. It won’t hurt. Promise.
Anyway, I hope you like this podcast and thanks for supporting the BeeHive; it’s much appreciated.
28 November 2007
Source: Podcast Alley website 27 November 2007.
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